October 12, 2023
DIF Capital Partners closes credit facility with innovative ESG performance criteria
DIF Capital Partners (“DIF”) is pleased to announce that it has successfully extended its EUR 1.2 billion credit facility with its main group of lenders for another year until September 2024. As part of this deal, ESG-linked performance criteria have been added to the loan agreement.
The credit facility was closed by the DIF Infrastructure VII fund and is provided by a club of banks including ABN AMRO, BMO, BNP Paribas, HSBC, ING, National Bank of Canada, Rabobank and Santander CIB. ING Bank acted as Sustainability Coordinator.
The loan agreement has been amended to include KPIs for ESG performance, relating both to DIF as a manager and to the ESG performance improvement of the underlying portfolio.
The inclusion of these ESG KPIs in the credit agreement underlines DIF’s desire to positively contribute to a sustainable future. In return, the DIF Infrastructure VII fund benefits from a reduction in margin on the facility upon meeting those KPIs. If the fund does not meet these goals, it will pay a margin premium. This arrangement reflects the lenders’ own ESG positions and commitment to a sustainable future.
“We are delighted to again be working with our long-term lending partners on this innovative credit facility, featuring clear ESG KPIs. The close of this agreement confirms our commitment to delivering a positive contribution to a sustainable future,” said Gijs Voskuyl, Partner and Deputy CEO at DIF.
About DIF Capital Partners
DIF Capital Partners is an infrastructure fund manager with more than EUR 17 billion of assets under management. DIF was founded in 2005 and has a leading position in managing mid-market investments, primarily in Europe and North America.
DIF follows two strategies: its traditional DIF funds invest in infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as concessions. The firm’s CIF funds invest in companies with strong growth potential that are active in infrastructure sectors such as digital infrastructure, energy transition and sustainable transportation.
With a team of over 240 professionals in 12 offices, DIF offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam, Frankfurt, Helsinki, London, Luxembourg, Madrid, Milan, New York, Paris, Santiago, Sydney and Toronto.
In September 2023, CVC, a leading global private markets manager, announced that it would be acquiring a majority stake in DIF Capital Partners. Closing of the transaction is subject to regulatory approvals and is expected in Q2 2024.
Press contact
DIF Capital Partners: press@dif.eu